USA Rare Earth gains on $19.3 million DOE funding

USA Rare Earth

21/05/2026 14:35

** Shares of rare earth magnet company USA Rare Earth USAR.O gain 1.3% to $22.87

** USAR to receive $19.3 million in funding from  U.S. Department of Energy (DOE) for a pilot rare earth processing project aimed at boosting domestic supply chains for critical minerals

** Total project is expected to be worth about $50.5 million, with about $31.2 million in non-DOE funding

** Final project details, including scope, budget and timeline, will be determined in discussions with the DOE

** Including session's move, stock up 89.66% YTD

 (Reporting by Pranav Mathur in Bengaluru)

 ((Pranav.Mathur@thomsonreuters.com;))